Neptune Wellness Solutions Inc. Closes $6.0 Million Offering

LAVAL, QC, Oct. 11, 2022  Neptune Wellness Solutions Inc. a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced that it has closed the previously announced offering of 3,208,557 common shares of the Company pursuant to a registered direct offering priced at-the-market under Nasdaq rules, and warrants to purchase up to 6,417,114 Common Shares in a concurrent private placement with institutional investors. The combined purchase price for one Common Share and one Warrant was $1.87. The Warrants have an exercise price of $1.62 per Common Share, are exercisable immediately following the date of issuance and will expire five years from the date of issuance.

The aggregate gross proceeds from the Offering and the concurrent Private Placement were approximately $6.0 million, before deducting fees and other estimated expenses. The Company expects to use the net proceeds from the Offering and the concurrent Private Placement for working capital and other general corporate purposes.

A.G.P./Alliance Global Partners acted as sole placement agent for the Offering and concurrent Private Placement.

The Warrants and the Common Shares underlying the Warrants sold in the Private Placement were issued in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506(b) of Regulation D promulgated thereunder and have not been registered under the Act, or applicable state securities laws. Accordingly, the Warrants and the Common Shares underlying the Warrants issued in the Private Placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

(This information is primarily sourced from Neptune Wellness Solutions Inc. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).